There is always a bubble, for some people going 1 to 10 was a bubble and for some 10 to 30 and then 500 to 1100 
When did it go from 500-1100?
I think you mean 100-1100.
You must be the new guy.
LOL, so it went from 100 to 1100 without crossing the 500
? i dont know i am new or old but i started when it was 70.No, it didn't.
After the silk road bust announcement, the price dropped to like $60 or something for a little bit before recovering back to like $100.
It didn't rally to $1,100 until like a month later.
The rally to 1100 is mainly due to the demand from China. Now that China is actively putting up policy to discourage bitcoin usage, it is hard to see which market can replace China market.
For me, I believe the Winklevoss ETF will be the "China of 2014." I'm hoping that a couple of things will happen. One, that there are investors who would buy BTC today, but are waiting for the ETF because that's what they'd really want anyway; they see the lack of an ETF and the trouble that the Winklevoss twins are going through getting it authorized as meaning it's not time for regular investors to be in BTC. This will be BTC's "IPO" so to speak; you'd never be advised to invest in BTC by an advisor who gets paid when you invest in "traditional" investment vehicles. I don't know how financial advisors operate but this is how I imagine it works. I could be totally wrong.
I do know one fact; Bitcoin's price will skyrocket the day that ETF launches.